Protect your family with a life insurance policy
Life insurance from Protective can help provide financial security for your loved ones when they may need it most.Common uses for life insurance:
Income Replacement
- Continue to pay mortgage
- Cover outstanding debt
- Maintain your families lifestyle
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Children's Education
- Ensure children don’t have to struggle to afford college
- First Car
- Unexpected Expenses
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Business Preservation
- Keep a business in the family
- Replace income for family members who depend on business
- Allow a partner to buyout the business item
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Term or Permanent Life Insurance?
You may have heard of term or permanent* life insurance but weren’t sure how they differ. Here’s a quick look.- Covers for a select period of time
- Offers a death benefit with no cash value
- Often one of the most affordable types of life insurance
- Appeals to families whose debt and future income needs are larger than their savings
- Provides a lifetime of coverage
- Offers life insurance protection and potential for
tax-advantaged cash value growth - Allows for cash value access through loans or withdrawals for retirement needs.**
- Learn more about Permanent Life
*As long as required premium payments are timely made.
**Withdrawals and loans will reduce the cash value and death benefit of the policy.
**Withdrawals and loans will reduce the cash value and death benefit of the policy.
An overview of the different types of permanent life insurance
Within the permanent insurance category, there are two main types: whole life and universal life.
Whole Life Insurance
- Lifetime protection
- Guaranteed death benefit
- Tax-deferred cash value growth at a fixed interest rate
- Sometimes used as a child's gift, taking advantage of their current insurability
- Learn more about Whole Life
Universal Life Insurance
- Lifetime protection with added flexibility
- Guaranteed death benefit
- Tax-deferred cash value growth
- Available policy types offering options for growth based on accumulation objectives and risk tolerance
- Learn more about Universal Life
